A subsidiary of “Food Development” signs a contract to establish 100 farms to raise broiler chickens

The Food Development Company announced that its subsidiary, the Agricultural Development Company, has signed a contract with the Chengdu Design and Research Institute to establish 100 farms for raising broiler chickens.
According to the company’s statement on the Saudi Tadawul, the contract includes construction work to prepare infrastructure, equipment and buildings for broiler chicken breeding farms.
The project aims to establish modern farms in the Kingdom of Saudi Arabia, equipped with Industry 4.0 technologies, on lands owned by the Agricultural Development Company.
The project is part of future expansions in primary poultry production, in line with the general expansion strategy of the Food Development Company.
She added that the start date for construction of the project is January 2025, while the cost of the project is 165 million riyals.
She noted that the method of financing the project is by agreeing on a long-term and deferred payment plan.
It is expected that the project’s expected impact on the company’s financial statements will begin in January 2027.